India's per capita income crosses Rs 50,000 for first time in 2010-11

India's per capita income crosses Rs 50,000 for first time in 2010-11

Reflecting growing prosperity, India's per capita income grew by 15.6 per cent to Rs 53,331 per annum in 2010-11, crossing the half-a-lakh rupees mark for the first time, according to government data.

"The per capita income at current prices is estimated at Rs 53,331 in 2010-11, as against Rs 46,117 for the previous year, depicting a growth of 15.6 per cent," said the Quick Estimates of National Income released by the Central Statistical Office (CSO).

The growth in per capita income comes on the back of 8.4 per cent expansion of the Indian economy during the last fiscal.

India's per capita income crosses Rs 50,000 for first time in 2010-11

Per capita income is the earnings of each Indian if the national income is evenly divided among the country's population of around 120 crore (Rs 1.2 billion). It is an important indicator of overall prosperity in the country.

However, the increase in per capita income at constant (2004-05) prices, after discounting for inflation, was about 6.4 per cent in 2010-11. It was Rs 35,993 in 2010-11, as against Rs 33,843 in the previous year.

According to the figures, the size of the economy at current prices rose to Rs 71,57,412 crore (Rs 71,574.12 billion) last fiscal, up 17.5 per cent from Rs 60,91,485 crore (Rs 60,914.85 billion) in 2009-10.

India's per capita income crosses Rs 50,000 for first time in 2010-11

Based on 2004-05 prices, the Indian economy expanded by 8.4 per cent during the fiscal ended March, 2011.

The GDP at constant (2004-05) prices in 2010-11 has been estimated at Rs 48,85,954 crore (Rs 48,859.54 billion), as against Rs 45,07,637 crore (Rs 45,076.37 billion) in 2009-10, as per the Quick Estimates.

The rate of growth in the 2009-10 fiscal stood at 8.4 per cent, as per provisional estimates which were also released on Tuesday.